As the UK gears up for what many believe will be a decline in the housing market over the coming months, it has been forecast that number of people applying for IVAs will fall.
Mortgage debt accounts for much of the debt that the UK finds itself in, with many consumers opting for an IVA so they can still maintain ownership of their homes.
However, with interest rates potentially falling many may find that they have the financial clout to cope with their monthly repayments.